We consider agents that play repeated second price auctions (for a single item) and GSP auctions (for multiple items, see, e.g., [1]}).
Our analysis starts with the simple second price auction, which is known to be incentive compatible. I.e., it is a dominant strategy for all players to bid their true values.
We show that in the setting where regret-minimizing agents play the auction on behalf of their owners, the results are different from this truthful equilibrium.
